City stalwart Ashurst has followed suit with peers in the Square Mile to raise the salary for newly-qualified solicitors (NQs), upping the ante to £105,000 including bonuses.
The move will mean a 9% pay increase for NQs, who were previously in line for maximum remuneration of £96,600, effective from the 2020 financial year. Continue reading “Change was necessary: Ashurst joins the war for talent with 9% NQ pay raise”
Clifford Chance (CC) has become the second Magic Circle law firm to raise the starting pay for its associates to £100,000, a month after City rival Freshfields Bruckhaus Deringer announced a similar increase.
In a move signalling the widening impact of the pressure for talent from US firms on the City elite, CC has raised its compensation for newly qualified (NQ) solicitors from £91,000 including bonuses. Continue reading “CC follows Freshfields with £100k package for junior lawyers as pay war with US rivals intensifies”
Ashurst has retained 95% of its 20-strong second year trainee cohort, with 19 of those in London accepting permanent newly-qualified (NQ) solicitor contracts at the firm.
If you see a rabble of trainees at the pub this lunchtime they may well be from Norton Rose Fulbright (NRF), which today (13 August) announced it has increased its newly-qualified (NQ) salary by £1,500 and offered in excess of 90% of its trainees a permanent position.
The newly merged, 3,800-lawyer firm has announced a trainee retention rate of 92% after offering 24 of its 26 trainees a NQ role, up from 89% in its last round in May. It has also increased its NQ salary from £61,500 to £63,000, effective 1 July (and backdated to 1 May this year). First and second year trainees will remain constant at £38,000 and £43,000 respectively. Continue reading “NQ retention and pay: Good news for NRF and Bird & Bird but FFW puts 5 trainees on extended contract”
